Nayax (NASDAQ:NYAX) Shares Gap Up – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) gapped up prior to trading on Wednesday. The stock had previously closed at $44.57, but opened at $46.62. Nayax shares last traded at $47.6090, with a volume of 4,814 shares changing hands.

Key Headlines Impacting Nayax

Here are the key news stories impacting Nayax this week:

• Positive Sentiment: Expansion with Santander’s Getnet: Nayax will integrate its payment technology with Getnet’s acquiring network, initially in Chile and later in Spain, Portugal, Brazil, Mexico and Argentina. The partnership targets vending machines, electric-vehicle chargers, kiosks and other unattended-payment businesses, potentially expanding Nayax’s international reach and transaction volume. Getnet and Nayax strategic partnership
• Positive Sentiment: Upside in analyst targets: Brokerages show an average price target of $75.76, with four Buy ratings, three Holds and one Sell. This suggests analysts see substantial potential upside, although recent target reductions and a Hold consensus temper the bullish signal. Nayax average analyst target
• Neutral Sentiment: Peer comparison provides limited new information: An article comparing Nayax with Flywire discusses financial differences but does not identify a new earnings, operational or valuation catalyst likely to materially change the investment case. Flywire and Nayax financial comparison
• Negative Sentiment: Multiple insider sales: The CEO, CFO, CMO and other insiders sold shares totaling approximately $41,700. The filings say most transactions covered tax withholding obligations from vested equity awards, and the executives retained sizable holdings, reducing the bearish significance. Still, the concentration of sales may add to investor caution, particularly as NYAX trades below its moving averages and carries a high trailing price-to-earnings ratio.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NYAX shares. Barclays reduced their target price on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. UBS Group reissued a “neutral” rating and set a $70.00 price target on shares of Nayax in a research report on Tuesday, August 11th. Weiss Ratings downgraded Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Finally, Keefe, Bruyette & Woods raised Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.76.

Nayax Price Performance

The business has a fifty day moving average of $53.84 and a 200 day moving average of $60.96. The firm has a market cap of $1.74 billion, a P/E ratio of 225.83 and a beta of 0.43. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Nayax had a return on equity of 10.45% and a net margin of 1.74%.The firm had revenue of $122.59 million for the quarter, compared to analyst estimates of $116.75 million. On average, sell-side analysts anticipate that Nayax Ltd. will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In other Nayax news, insider David Ben-Avi purchased 1,554 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average price of $43.18 per share, for a total transaction of $67,101.72. Following the purchase, the insider owned 6,591,702 shares in the company, valued at approximately $284,629,692.36. The trade was a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Yair Nechmad purchased 104,511 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were acquired at an average cost of $44.09 per share, with a total value of $4,607,889.99. Following the acquisition, the chief executive officer directly owned 7,433,558 shares in the company, valued at approximately $327,745,572.22. The trade was a 1.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 107,879 shares of company stock valued at $4,752,860 and have sold 3,161 shares valued at $152,241.

Institutional Trading of Nayax

A number of hedge funds have recently modified their holdings of NYAX. Y.D. More Investments Ltd boosted its holdings in shares of Nayax by 3.1% during the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after buying an additional 25,694 shares during the period. Altshuler Shaham Ltd grew its position in shares of Nayax by 140.0% in the fourth quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company’s stock valued at $1,742,000 after purchasing an additional 20,121 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Nayax by 36.4% in the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after purchasing an additional 72,357 shares during the last quarter. AltraVue Capital LLC acquired a new position in shares of Nayax in the fourth quarter valued at approximately $11,623,000. Finally, Tidal Investments LLC bought a new position in shares of Nayax during the second quarter worth approximately $650,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd. (NASDAQ: NYAX) is a global financial technology and commerce enablement company that provides payment processing, management software and business intelligence solutions for unattended and self-service markets. Its platform helps businesses accept and manage cashless transactions while monitoring equipment, customer activity and operational performance.

The company’s products and services are used across industries including vending, electric vehicle charging, fuel and convenience retail, parking, laundromats, hospitality and other automated retail environments.